4303 Aggie Road, Jonesboro, AR ACRE MEADOWVIEW MOBILE HOME PARK

Transcription

1 4303 Aggie Road, Jonesboro, AR ACRE MEADOWVIEW MOBILE HOME PARK

2 FOR FOR SALESalE 4303 Aggie Road, Jonesboro, AR Linwood Drive & 6002 Kingshighway, Paragould, AR Opportunity Overview MEADOWVIEW MOBILE HOME PARK is projected to produce an NOI OF +$250,000 IN 2015 making for a CAP Rate of over 9%. This is a quiet, well established residential community along Aggie Road. Nestled in the heart of the Nettleton School District, Meadowview is surrounded by several churches, schools and subdivisions, and is less than FOUR MINUTES from both ARKANSAS STATE UNIVERSITY and the new $400 MILLION NEA BAPTIST HEALTHCARE CAMPUS. The location of this park allows quick access to the retail expansion occurring along Highway 49 North. The park is comprised of 100 MH LOTS, 8 RV LOTS,AND 45 PARK-OWNED HOMES. There is upside for increased lot rates as they have not been increased in 10 years. This mobile home property was grandfathered into a zoning that you cannot get within several miles. The residents of the community have ACCESS TO A LARGE PARK WITH A PLAYGROUND AREA, AND OUTDOOR PAVILION which is also located on the grounds. The park pays for water, sewer, and trash. It also includes lawn care and pest control both of which can be stopped under new ownership. There is also a storm cellar. OFFERING Price: CAP Rate: Lot Size: MH LOT Count: *100% OCCUPIED $2,700, % AC 100 ($175/Lot) RV Lot Count: *50% OCCUPIED Park-Owned Homes: 2-Bedroom: 3-Bedroom: 8 ($300/LOT) 45 $525/MONTH $600/MONTH UTILITIES: Electricity/Power, Water, Cable, Irrigation, Telephone and Gas/Propane ESTIMATED EXPENSES: EFFECTED GROSS INCOME: Real Estate Taxes Insurance CAM TOTAL EXPENSES: NOI: $420,000 $4, $9, $150, $163,800 (39%) $256,200 *Projected based on 2015 rent rolls through August & current expense ratio JOSHUA BROWN, CCIM Principal josh@haagbrown.com NATHAN ELLER Operations Director NATHAN@haagbrown.com CONNECT LINKS LoopNet OFFICE efax Browns Lane, Jonesboro, AR

3 4303 AGGIE ROAD AC $145,474.13/AC $2,700,000 AERIAL

4 ***This document has been prepared by Haag Brown Commercial for advertising and general information only. Haag Brown Commercial makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Haag Brown Commercial excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. PHOTOS

5 SITE LOCATION 4303 AGGIE ROAD AC $145,474.14/AC $2,700,000 HWY 49 AERIAL

6 Arkansas Business awarded Jonesboro the City of Distinction Award for Main Street Preservation (2012) and for Workforce Development (2011) among cities of over 20,000 in the State of Arkansas. Source: Arkansas Business August 2012 and 2011 Jonesboro ranked #17 on Area Development magazine s recent list of Top 20 Southern Cities. The magazine ranked 365 MSAs across 23 economic and workforce indicators to determine the rankings. Source: Area Development Site and Facility Planning, Leading Locations 2012, June JONESBORO SPOTLIGHT Forbes Magazine ranked the Jonesboro MSA consisting of Craighead and Poinsett counties No. 7 overall among the Best Small CITIES FOR JOBS out of 184 MSAs under 250,000 population across the United States. Source: Forbes Magazine June 2012 Jonesboro recently ranked 9th in the nation on the Best Cities for Cheapskates! Kiplinger and Yahoo Finance looked for metropolitan areas with low living costs and high incomes relative to those costs; along with places that offer free, or nearly free, things to do. The dollar stretches further in Jonesboro! Source: Kiplinger and Yahoo Finance, May Jonesboro is a great place to live, and the community s cost of living is currently 88.8 percent of the national average. Source: Council for Community and Economic Research, Annual Report The Next Silicon Valley Craighead County was selected as #1 in the nation for smaller communities that have the potential to serve technology companies. Criteria considered included demographics, workforce, university and percentage of fiber. Source: Business Insider October 24, 2011 The editors of U.S. News and World Report ranked Arkansas State University as a Tier 1 Southern regional college (Arkansas State University had a record enrollment for the fall semester with 13,920 students) in the magazine s America s Best Colleges edition. Source: U.S. News and World Report September 2011 and Jonesboro led all Metropolitan Statistical Areas in the state in personal income growth for 2010 and was 25th highest in the nation. Jonesboro s personal income grew by 5.1% from 2009, the state by 1.8% and the nation at 2.9%. Source: U.S. Bureau of Economic Analysis August 2011 Jonesboro s was one of the fastest growing cities in the state from , with an increase in population of 21.2%. Jonesboro s population in 2000 was 55,515 and in 2010 it was 67,263. Source: U.S. Census Bureau Jonesboro was the only Metropolitan Statistical Area (MSA) in the state that experienced positive job growth from December 2007 October 2010.

7 SITE LOCATION Jonesboro Trade Area Primary Secondary Tertiary Total JONESBORO RETAIL TRADE MAP

8 Jonesboro Trade area Map DEMOGRAPHICS 10 MI 20 MI 50 MI Pop 87, , ,110 HH Income 53,756 $50,346 $46,085 Total No. of HH 33,746 53, ,525 Little rock 132 Miles SITE Memphis 63 Miles Miles to major cities: Memphis: 63 Little Rock: 132 St. Louis: 271 Nashville: 274 Atlanta: 448 Dallas: 453 Chicago: 519 Houston: 577

9 *HB DEVELOPMENTS Academy Sports Arkansas State University Armor Seed Arkansas Dentistry & Braces Aspen Dental AT&T BNSF Railroad Buffalo Wild Wings Cinema Management Group Cheddars Casual Cafe CWL Jonesboro Dairy Queen Diet Center Dollar General Families Inc. Fazoli s FFO Home Five Guys Burgers Gigi s Cupcakes Hugg & Hall Kirkland s Longhorn Steakhouse Mattress Firm Men s Wearhouse Murphy Oil Nabholz Real Estate NEA Baptist Clinic O Reilly Auto Parts Orscheln Panera Bread Plato s Closet Red Lobster Reliance Health Care Ritter Communications Sissy s Log Cabin Starbucks SUMO Uncle Maddio s Uppercurst Pizza JOSHUA BROWN PRINCIPAL, CCIM Joshua Brown is the co-owner and Executive Broker of Haag Brown Commercial Real Estate & Development. Joshua serves as a Principal in Haag Brown Development, having developed numerous high profile retail properties in Arkansas and the mid-south. Other states experiencing the success of Haag BrownDevelopment include Oklahoma, Missouri, Tennessee, and Mississippi. Haag Brown Commercial was named a finalist for Small Business of the Year by Arkansas Business in 2012 and Most mornings, Joshua can be found at the office before sunrise drinking coffee, watching the various well-fed birds and squirrels. The next order of business includes filling the office glass boards with the day s brokerage, development and office to-dos and opportunities. Organization within the company is vital for project and client follow-through and is reflected in getting deals across the finish line. Joshua has a passion for assisting real estate users and investors as they make informed decisions. Haag Brown Development has the reputation for developing architecturally appealing buildings as well as delivering proposals to tenants in an unprecedented timeframe. Joshua s goal is to create a commercial brokerage and development company unlike others. He attributes his success to using the Bible as a guide for operating his business. Courtyard by Marriott Acre - 5 Story hotel on Highway 49 in Jonesboro, AR Highland Shopping Center - 6 Acre - 60,000 SF Retail Center on Red Wolf Blvd. and Highland Drive in Jonesboro, AR Coca-Cola Bottling Plant - 7 AC, 55,000SF - $3.575 million purchase in Jonesboro, Ark. CERTIFIED COMMERCIAL INVESTMENT MEMBER, CCIM Joshua joined his partner Greg Haag in earning his CCIM designation at 25 years of age. Joshua has been the only broker to earn the Triple Diamond Award in Northeast Arkansas, which required $21MM in volume. In 2014, his individual volume exceeded $50MM. He has escorted numerous national retailers through Arkansas and bordering states as both a developer and broker. Joshua has been a lead partner in acquiring retail and office assets for national capital groups. Joshua has been on mission trips to multiple countries with his local church, Central Baptist in Jonesboro, Arkansas. His most recent adventures include Dubai, UAE, to serve in labor camps, and to Assam, India to serve unreached villages without clean drinking water supplies. He can seldom be found too far from his wife Britni, daughter Alex, and son Lincoln. Joshua is enthusiastic about cycling, running and traveling 30A along Florida s coast with family. FINALIST FINALIST